former senator bob dole, called inouye one of the giants of the senate. >>> 11 minutes before the top of the hour. compromises are rare but not impossible. this morning, it appears they're closing in on a compromise. seema mody live with the latest offer on the table. seema? >> that's right. president obama makes a new offer to house speaker john boehner as they try to reach a deal to avoid the fiscal cliff. they metaphor 45 minutes on monday and are expected to talk again today. reports say that the proposal will raise revenues and cut spending by $1.2 trillion over the next decade. the president is now reportedly seeking to extend the bush era tax cuts for everyone making below $400,000 a year. up from his previous earnings threshold of $250,000 a year. he has agreed to use the chained consumer price index to calculate most benefits. president obama wants to raise the debt ceiling high enough to take the issue off the table for two years. boehner is expected to brief house republicans on the president's offer today. so be sure to watch out for that. back to you. >> will do. thank yo